Vivartia Offloads Bakery And Confectionery Business As It Looks To Deleverage

Greek investment fund Marfin Investment Group (MIG) has announced that its food business Vivartia is to sell its bakery and confectionery business unit. MIG will sell the unit for EUR730mn to a group led by Saudi Arabian investment group Olayan and Vivartia's current CEO Spyros Theodoropoulos. MIG has said that proceeds from the sale will allow it to deleverage as it looks to adapt to difficulties in the Greek economic environment.

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